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Tech IPOs Will Be Tested
With Offering From Paypal

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Raymond HennesseyDow Jones Newswires

Updated Feb. 4, 2002 12:01 a.m. ET

NEW YORK -- This week, Wall Street will find out whether technology will in fact be the driver of 2002 IPO market.

In all, three companies came to market with initial public offerings of stock last week, with two beginning initial trading Friday. Carolina Group, the Lorillard tobacco tracking stock of Loews Corp., rose 4% to $29.10 on the New York Stock Exchange after selling 35 million shares at $28 a share, at the top end of estimates of $25 to $28 a share. Citigroup Inc.'s Salomon Smith Barney and Morgan Stanley led the...